FX.co ★ Hong Kong Equities Kick off Week Higher

Hong Kong's stock market experienced an uptick of 93 points, or 0.4%, reaching 26,480 during early trading on Monday. This marks the second consecutive session of gains. The positive sentiment was bolstered by a slight increase in U.S. futures as investors anticipated the forthcoming Federal Reserve meeting this week. At this meeting, it is widely expected that the Fed will reduce interest rates by 25 basis points. Nonetheless, some traders are speculating on a larger half-point rate cut due to cooling labor markets and mild inflation. Concurrently, U.S.-China trade discussions continued into their second day in Madrid, highlighting an escalation in diplomatic efforts between the two nations. The technology and consumer sectors were at the forefront of these gains. However, these gains were somewhat limited by discouraging economic data from China, showing industrial production growth at its slowest pace in a year, retail sales expanding at the lowest rate in eight months, and unemployment reaching a six-month peak.